"PP" Screw You India

[seosutra]

As part of our commitment to provide a high level of customer service, we would like to give you a 30-day advance notice on changes to our user agreement for India.

With effect from 1 March 2011, you are required to comply with the requirements set out in the notification of the Reserve Bank of India governing the processing and settlement of export-related receipts facilitated by online payment gateways ("RBI Guidelines").
I got this is my mail today !!

In order to comply with the RBI Guidelines, our user agreement in India will be amended for the following services as follows:
Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within 7 days from the receipt of confirmation from the buyer in respect of the goods or services; and

Export-related payments for goods and services into your PayPal account may not exceed US$500 per transaction.
We seek your understanding as we continue to employ our best efforts to comply with the RBI Guidelines in a timely manner.

We regret any inconvenience caused to you and hope the advance notice will enable you to plan your future use of our services accordingly. For further information, click here.

 

[vlerian]

what actually happen there in India that make PP "pays a very close attention" to?
specific bank/gov regulation or something?

 

[gowthamtup]

paypal sucks :zx11pisse

 

[intrug]

No... Indian policies sucks..
They protect filthy wealthy guys who owns tons of black money in Swiss bank and try to get hold of petty shops like us ;(

 

[vlerian]

wow man.. you've been waiting for 6 months on BHW just to say that?
lol.. j/k
yes, PP sucks many people will agree.
but 60% of my money come via this company.

paypal sucks :zx11pisse

 

[VarunDave]

True .. There are tons of scams happening and people at high posts are just getting wealthy. We are working hard and earning money and what in the end for us ? we can't buy anything online from that money nor we can send it to anyone. all should go to a bank account within 7 days. damn dckheads.

Strategy :

Payment -> Own US Paypal  -> Own Indian Paypal -> Bank

No... Indian policies sucks..
They protect filthy wealthy guys who owns tons of black money in Swiss bank and try to get hold of petty shops like us ;(

 

[virtualc08]

WTF! I cant keep money in my PP account ?? this sucks! But I never got this mail .... Even I am from India .. A similar issue had sprung up recently and it somehow got ignored and now it is back again .. Damn this sucks...

 

[intrug]

Own US Paypal is tough ?
How can we go thru different levels of verification ?

 

[neo3187]

Its not paypal's fault... its the bloody corrupt indian government... i cant believe the RBI went ahead and made these changes happen.. i mean its not like million of people are earning through paypal... why cant they go and raid on the houses of the rich corrupt politicians instead of killing our living....

recently an IAS officer was burnt alive when he tried to expose the corrupt politicians... i hate this country...

 

[Monrox]

Guys, this is not that strange really. Here's an example:
In USA you can't 'import' more than $10k undeclared. The annual income per capita is ~ $30k and 10 000 is 1/3 of that.

In India the annual income seems to be ~ $1000. $500 is 1/2 of that so the diference compared to America is not that big. Since PP is not a bank and thus not reporting to the tax agency in India they need a way to be able to operate legally.

You actually are getting a break, 1/3 would mean you can't receive more than $333 per international transaction. And I quess $500 in India can get you a lot more stuff than $10 000 in the US

So it's not just your politicians that live a rich life, it's everywhere

 

[Marketing Jhonny]

Im sorry for you guys, but this is going to benefit a lot of people aka people like me

Again Im sorry but well If it benefits me its awesome

 

[neo3187]

How will it benefit you?? When i registered for paypal, it asked for my PAN number, which means all the transaction details will automatically be delivered to the Income Tax department... then this step was totally not required... this is just to bug the very small population in india which is making a living on the internet...

But iam sure some stupid companies must have been a part of IT scam because of which all this came into light...

Im sorry for you guys, but this is going to benefit a lot of people aka people like me

Again Im sorry but well If it benefits me its awesome

 

[Marketing Jhonny]

How will it benefit you?? When i registered for paypal, it asked for my PAN number, which means all the transaction details will automatically be delivered to the Income Tax department... then this step was totally not required... this is just to bug the very small population in india which is making a living on the internet...

But iam sure some stupid companies must have been a part of IT scam because of which all this came into light...

Im not from India and I wont say why this will benefit me but it does and well for me its great

 

[neo3187]

I agree Monrox that its everywhere... but theres a system also everywhere... in your country people work for 8 hours and thats it, for working overtime they get extra $... here there is no system... no fixed job timings...no overtime allowance... with all the exploitation this another step is just even more painful...

Guys, this is not that strange really. Here's an example:
In USA you can't 'import' more than $10k undeclared. The annual income per capita is ~ $30k and 10 000 is 1/3 of that.

In India the annual income seems to be ~ $1000. $500 is 1/2 of that so the diference compared to America is not that big. Since PP is not a bank and thus not reporting to the tax agency in India they need a way to be able to operate legally.

You actually are getting a break, 1/3 would mean you can't receive more than $333 per international transaction. And I quess $500 in India can get you a lot more stuff than $10 000 in the US

So it's not just your politicians that live a rich life, it's everywhere

 

[intrug]

Absolutely a wrong theory..
It is not comparing with India with US..
It is comparing with the Indian Operations to Operations.
Lot of Big Services company evade tax, get subsidized lands,Loans and all benefits.
Other Business guys evade taxes.Politicians loot the nation
Black Money piled up and the govt backs them up
We the paypal users earn a meager life through small time services and now we are screwed..
We are not encouraged to do business outside India.We dont have any source to get regular money.We have restricted Western Union and now Paypal has been stung.500 or 5000 we get our money through Indian banks and we will a restricted operations..
Mera Bharat Mahan..

Guys, this is not that strange really. Here's an example:
In USA you can't 'import' more than $10k undeclared. The annual income per capita is ~ $30k and 10 000 is 1/3 of that.

In India the annual income seems to be ~ $1000. $500 is 1/2 of that so the diference compared to America is not that big. Since PP is not a bank and thus not reporting to the tax agency in India they need a way to be able to operate legally.

You actually are getting a break, 1/3 would mean you can't receive more than $333 per international transaction. And I quess $500 in India can get you a lot more stuff than $10 000 in the US

So it's not just your politicians that live a rich life, it's everywhere

 

[neo3187]

maybe you are hoping that now indian service providers will have problems and your business will flourish ... one man's loss is another man's gain eh??

Im not from India and I wont say why this will benefit me but it does and well for me its great

 

[seobizwiz]

Need to Set Up A BHW pp system!

 

[neo3187]

totally agree with you intrug... its just that sucking money from us would be easier for them than to suck the nation's money back from the swiss bank... this country was never gonna grow and this just proved it..... indeed mera bharat mahan ( full of sarcasm)

Absolutely a wrong theory..
It is not comparing with India with US..
It is comparing with the Indian Operations to Operations.
Lot of Big Services company evade tax, get subsidized lands,Loans and all benefits.
Other Business guys evade taxes.Politicians loot the nation
Black Money piled up and the govt backs them up
We the paypal users earn a meager life through small time services and now we are screwed..
We are not encouraged to do business outside India.We dont have any source to get regular money.We have restricted Western Union and now Paypal has been stung.500 or 5000 we get our money through Indian banks and we will a restricted operations..
Mera Bharat Mahan..

 

[negligence]

To me this doesn't seem like that big of a deal?

It appears as though they are stating 2 things:

1) When you receive a payment, you should transfer it to your bank account
2) When you withdraw money FROM your bank account, it can't exceed $500.

Does that seem accurate?

It sounds like they're trying to prevent PayPal from being used as a virtual bank.

 

[haridada]

literally a big screw up by the indian govt. they cant stop people scamming in billions of dollars, but then in order to manage all the scams in the country they do put the stress on the people who are earning from the internet.

shitholes